Spirit Airlines Files for Chapter 11 Bankrupcty, Plans to Continue Flying
It’s official, Spirit Airlines filed for Chapter 11 bankruptcy protection on Monday, November 18. After years of financial stress and money issues, the popular and affordable airline company has filed.
Spirit Airlines Files for Bankruptcy
In an official press release, Spirit Airlines says they have reached a deal with bondholders to restructure its debts and will continue flying as usual during the bankruptcy process. The company announced that it will continue to honor all tickets, credits, and loyalty points.
“The restructuring is expected to reduce Spirit’s debt, provide increased financial flexibility, position Spirit for long-term success, and accelerate investments providing Guests with enhanced travel experiences and greater value,” said the airline company in an official press release.
Spirit Airlines is the first airline to file for bankruptcy since 2011. The filing also comes after an attempt for the airline to conduct a merger with JetBlue. Spirit Airlines is the nation’s 7th largest carrier and JetBlue is the 6th largest. The deal was blocked by the Department of Justice and did not continue.
“We expect to complete this process in the first quarter of 2025 and emerge even better positioned to deliver the best value in the sky,” said the airline.
The company is the largest affordable airline in the nation and users took to social media to respond to the news of their bankruptcy. The popular airline took to Instagram with a post following the news of their filing, “We’re still flying, so no need to have FOMO! Whether you are visiting family in Orlando, celebrating an anniversary in Atlanta, or going on a much-needed vacation to Las Vegas – you can continue to rely on Spirit for great value and excellent service. Read our letter to Guests at the link in bio.”
Social media users took to the comment section of the post to share their thoughts. “Don’t worry spirit. U will always be my favorite banana in the sky,” said one user. For now, business will continue as usual and if you are still looking for an affordable flight, Spirit is still available.